Addis Ababa (Ethiopia today )January 28, 2023:- Industrial Parks Development Corporation (IPDC) stated that Dire Dawa Free Trade Zone, the first of its kind in Ethiopia, to commence production.
IPDC CEO Aklilu Tadesse told local media that the corporation has been working to make free trade zone to be one of the huge industry related working area and industrial center, too. Apart from focusing on manufacturing sector, it is also aggressively working to make hub of various logistics working too.
“Free trade zone is the newly industrial move work well taking the best experience from other nations. It has also taken the Ethiopian current situation into account to put into effect through revising tariff and improving policy cautiously,” he noted.“Free trade zone would enable the nation to compete with other countries of the world engaged in a similar activity and it serves as one way for the nation to secure foreign exchange. Currently, about eight investors in areas of manufacturing start operating, he stated.
As to him, when these companies start working, about 2,500 citizens would get jobs and investors would start their work at initial capital of 10 million USD.
Moreover, Aklilu Tadesse signed a memorandum of understanding with seven local companies and one foreign company managers that are entering to Dire Dawa Free Trade Zone.
Free Trade Zone was inaugurated by Prime Minister Abiy Ahmed (PhD) last August 2022.